Online Language Learning Subscription Business Scope
People take pride when they mention up to 3-4 languages in their resume. Kids are taught different languages since their early years in their schools. Learning more than one language is a new trend that has become part of the modern lifestyle. There are several applications that people use to learn and improve their reading, writing, and speaking skills for different languages. These applications divide the learning process into levels.
As the learning of a person improves he is upgraded to the next level of learning the language. From the beginner to the professional level, the language learning applications are designed and developed in a way that they polish the linguistics of learners. So, the market of language learning shows a constant improvement. Every day new learners become part of the existing pool of learners.
Recently, COVID-19 has widely affected the learning process of students all across the globe. But it has become the cause of rejuvenating the trend of online learning and education subscriptions. Even McKinsey reports, many educational institutions completely shifted to the online learning system. And they have adopted online subscription billing to charge for their recurring services.
Team SubsceriptionFlow has put in the effort to bring forth this piece of content to enlighten you about the scope of the language learning applications market, and how this market is knitted with the subscription business model.
Scope of the Language Learning Subscriptions
There are no two opinions about it that the scope of online language learning subscriptions is increasing every day. However, it is also important to know the reasons that have played role in establishing the trend of subscribing to learn multiple languages.
- Students prefer subscriptions for learning multiple languages so that they can find career opportunities in different regions of the world where their polished linguistic skills can help them adjust to the new environment.
- Today, people travel more than they used to do in the past, and when they travel, they are intrigued to learn the new languages of the regions that they visit. So, they subscribe to different online language learning subscription plans.
- Globalisation is another reason that urges people to subscribe to learn different languages. People run businesses beyond borders, and to deal with international clients, they opt for subscribing to language learning courses.
- It has become the symbol of modernity to be bilingual or trilingual. Even if people are not interested in learning new languages, they become subscribers of language learning courses to jump on the bandwagon.
All these factors contribute to improving the scope of the subscriptions for online language learning courses. Another reason for the success of the subscriptions for online language learning courses is the affordability of these courses. Many students and learners have budget limitations, but it is quite pocket-friendly for them to pay a small amount of money every month or any other subscription period rather than paying the lumpsum fee.
The market of the language learning subscriptions business is usually divided based on the region, type of learners, and native languages that they speak. And the scope of the language learning subscriptions is widening in all these dimensions.
Also Read: You Need A Recurring Revenue Stream to Draw Success in 2021 And Onwards
Subscription Business Model for Language Learning Services
People opt for a subscription business model for online education services but does this business model suit online learning courses?
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The simple answer to this question is, yes, it does!
People need services to learn a language recurrently, and when the need is recurrent, there can be no other business model more suitable than the subscription business model.
Most of the language learning applications offer freemium versions for all language learners. But what is it that makes most language learners subscribe to the premium version to learn a language? Advertisements are never appreciated by online language learners. Ads disturb the process of online learning. Many learners shift to affordable language learning subscriptions because in premium versions one can learn for long hours without any ads or any other disturbance.
Research by Duolingo has also revealed that the learning speed of their language learners is more when they are using the premium version.
Subscriptions are the best way to charge for the services to teach a language, but it is important to decide the subscription business model when you are intending to offer online language courses.
Online Vs Onsite Language Learning
When you are up for offering some language courses, it is important to analyse the current scenario to decide whether it should be online or onsite. Online learning courses are offered remotely. Though both onsite and online learning has their pros and cons, we will not take you to the details of that. Here, we will remain focused on the current circumstances to decide whether the new entrants in the market need to offer onsite language learning courses or online learning language courses.
According to Statista, the use of Zoom, Google classrooms, and Moodle increased during the spread of the COVID-19. Though there are constraints regarding catering to the students in the rural areas, there is no other option but online learning platforms when the pandemic is wreaking havoc and forcing people to stay inside homes. Moreover, now that it has been two years since the pandemic hit the world, people are accepting the trend of remote learning and e-learning. In the light of the analysis of the contemporary situations, it is better to offer online language learning courses
AI-Based Subscription Management Software for Online Language Learning Subscriptions
By now we have established that subscriptions are the best way to charge for the online language learning course. But how to manage the number of learners that are increasing with every passing day? Many SaaS companies are offering their subscription management platforms. For instance, SubscriptionFlow uses artificial intelligence to enhance system efficiency and accuracy of the subscription handling system.
The AI-based subscription management software not only manages the subscriptions but can also be integrated with third-party applications. These integrations offer a holistic business solution to manage the complete business on one platform.
Business analytics is equally important for all businesses and AI-based subscription handling platforms offer useful business insights. You can analyse different KPIs regarding subscriptions for your language learning courses and make predictions. Reporting and analytics are also important when it comes to futuristic business policies.
Every day new language learners enter the subscription business market, and they show that how speedily the scope of online language learning is increasing. If you are offering or ready to offer some online language course, then manage your subscribers through the SubscriptionFlow platform. Here you will find experts to help you make and implement the best subscription plans for your online language courses. You will also be able to streamline the recurring billing and payment process on this subscription management platform.
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